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Hello! Love is in the air this month and France has always been – and I would guess will continue to be – a country full of romance. When I am driving around the country roads close to my own French home in the Tarn et Garonne, marvelling at the beautiful countryside and being serenaded by Charles Aznavour on my French radio, I am easily reminded that this is a country which never loses its romantic feel. The feeling of space and beauty, the laid back air in the tiny villages and the lazy summer days all add up to a desire to embrace this wonderful country for offering us what perhaps the UK is in danger of losing: a sense of community, belonging and peace. I had a lovely time in Montjoi last month, a well deserved break after the France Show which turned out to be a huge success and it was SUCH a joy to meet some of my lovely readers in person! The sun was out, it was crisp and cold with just the odd morning mist and I pottered about in my village, at the market and with friends and found out a little about what is expected to happen this year for property. I also had a coffee with some friends who used to be neighbours – and have now moved to a larger modern house just outside an ancient village a few miles away. I asked them for their story which I will be pleased to share with you next time. Aside from soaking up the lovely French atmosphere and enjoying a leisurely aperitif with my neighbours in the early evening sun, I did find time to talk to some agent colleagues and to bend their ear about property trends. It makes pretty interesting reading and you will see my mini-report later on in this newsletter so read on… You know I heard recently that as many as one in ten British people is already living overseas and this number has doubled in the last 7 years or so! The trend looks likely to continue apace and many expats are encouraged by the potential turn around in the French economy, not to mention the sunshine, rolling countryside, the local boulangerie…. So love is still firmly in the air in France it seems and is likely to stay there for some time. One of my readers described to me how she had fallen in love at first sight with … wait for it … a house in France! She went on to buy it, has now moved in and her only regret is that she had not done it earlier! As for me, I would love to help you find your very own property in France and can help guide you along the way. Do you need advice on which area would be best for you? Would you like to be guided along the way? If so, please feel free to email or call me or quite simply fill out our short property form telling me as much as you can about your plans. I will then be delighted to assist you and put you directly in touch with the right people to set you on your way to your own lovely property in France. http://www.francebuyingguide.com/property.htm Take care, Alexis |
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Property Trends in France for 2008 – from the horse’s mouth…House prices in France have risen steadily in recent years although nothing like as sharply as those in the UK. One of the many reasons us Brits yearn to move to France is that it is rightly perceived that one can get far more for one’s money than in the UK. This is not entirely surprising: France is a huge country in comparison to our tiny island and there is far more land available and less people per square foot. The English love affair with France remains undiminished and although there were far more serious bargains to be had, say, 15 to 20 years ago, it is still possible to pick up a property for as little as €50,000 if one knows where to look and is prepared to do a little renovation. During my brief stay at my own French home in the tiny bastide of Montjoi on the edge of the Tarn et Garonne department of the Midi-Pyrenees recently I asked 2 property agents for their views and predictions for the property market generally in 2008. Certainly there appears to be no shortage of Brits wishing to emigrate to France but I am often asked for some information on property trends and, as ever, I have kept my ear to the ground so that our readers’ education on France can help them plan for their eventual move. I said France is a huge country and that must be borne in mind whilst reading this brief report. The agents I have approached are both in the heart of the Midi-Pyrenees region, actually the largest region in France and so can really only speak for this area. Having said that, they both have been in the property business in France for long enough to have an idea of what is happening nationally and I hope their knowledge and views may prove to be useful to you. To start with a general overview: According to the 2 agents I asked, the average price for a 100 sq.m. house in France (roughly equivalent to the size of a 3 bed semi in England) is approximately €180,000. Both agents agreed that the most expensive area is Provence, Cote d’Azur, closely followed by Paris and the least expensive the Limousin area where the average price is about €130,000. It is to be noted that, with the exception of Paris, the most expensive regions tend to be in the south of France. The Cote d’Azur is at an average of about €300,000 and the Languedoc Roussillon and the Rhone Alps areas coming out at about €220,000. The sun will always be popular! Interestingly, three of the areas most popular with us Brits, Aquitaine, Midi-Pyrenees and Brittany are pretty much dead on the average of €180,000. Both agents were of the view that this year will not bring any great changes to property prices generally, despite the election of a new President who is apparently determined to give the French economy a much needed boost. Prices have been slowly but steadily rising over the last 3 or 4 years and for this coming year at least there is unlikely to be a huge change. This can only be good news for those wishing to move to France in the short to medium term. Regarding types of property, both agents agreed that traditionally it is the English who seek the classic old stone farmhouse type of property in France and are not fazed by prospective, and often major, renovation. One of them told me that she had recently had a buyer willing to spend in excess of €700,000: he told her that, for this money, he would be lucky to get a 2 bed flat in the south east of England where he was from, much less a traditional stone built property! He was also keen to acquire a small amount of land and if this came with a derelict barn, so much the better. She found him a large “maison de maitre” (manor house) on the outskirts of a large old village on the edge of the Tarn et Garonne with one hectare (about 2 acres) of land and – you guessed it – a derelict barn! But get this: the price for all of this was just €450,000, leaving him enough “small change” to renovate the barn AND buy all the furniture he needed for both barn and house, not to mention building a chicken coop or two on the remainder of the land. However, one of the agents also told me that this type of property has been in much demand for many years now and so prices have been steadily rising. One result of this is that some town and village houses have been largely overlooked by buyers from abroad and she felt that this may well be where serious bargains are still to be found. This agent also told me that the French are tending more and more to look for off plan property or simply to find a decent piece of land on which to build. The planning laws have been somewhat simplified over the last few months which make this a more attractive proposition. Here in the Midi-Pyrenees you will often see ancient villages, some dating back as far as the 12th or 13th century, and on the outskirts the odd brand new property dotted about in keeping with the style but still very obviously new. So what can we expect as Brits contemplating buying in France for this coming year? The overall conclusion, according to what I was told by the 2 agents I spoke to, is that the market is slow for sellers. There may be an upturn come Spring, traditionally the time when buyers decide to look at properties in earnest and the results of Sarkozy’s apparent attempt at boosting France’s economy may have to wait: it is too early to say. However, looking at it from the English buyer’s point of view, this is an optimum time to buy, despite the pound having lost some ground recently against the euro. There is a fair amount on the market waiting to be snapped up and, as long as the French retain their main interest in newer properties, that lovely old stone farmhouse may be yours for the taking. Am I the only one who has occasionally read of someone looking to buy their dream home overseas and, almost by chance, they come across “the one”? Love at first sight? Well maybe, just maybe. But planning and forethought about what you are REALLY looking for will stand you in far better stead when looking for your ideal property. And that is where I come in! I would love to help you plan your France dream, love to help you decide on the area which suits you best, plan your purchase wisely from a financial and practical point of view and generally pass on what I have learnt about France over the years: all you have to do is tell me what is important to you and I will do the rest. |
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How Much will your Euros Cost you?by Smart Currency’s Charles Purdy.Sterling was holding the middle ground until our beloved government decided to nationalise Northern Rock. Not a great outcome but it will hopefully draw a line under an event that proved very damaging to the UK’s reputation. Sterling has lost significantly against most, if not all, currencies since the problems at Northern Rock were made public. Last week, the Governor of the Bank of England highlighted the problem of rising costs and a faltering UK economy. UK inflation could be as high as 3% by year end whereas the target was 2%. As a result, the market has tempered its expectations as to the speed and extent of UK interest rate reductions. I still believe sterling is oversold: by this I mean that sterling should strengthen over the medium term but the reality could be a lot different. Also beware of another major shock like Northern Rock as we would then see sterling slide rapidly. The € sits at €1.324/£1 inter bank. Euro land cannot defy gravity and be an economic wonderland as all around is failing. It cannot be the only economy that bucks the trend as it is very dependent on the US and UK as trading partners and, as they suffer, Euro land will begin to suffer too. Interest rates were held at the current level by the European Central Bank. Germany saw a rebound in business confidence albeit this was from historic lows. The € has the feeling of a safe haven currency at the moment and is offering a reasonable yield but I continue to wonder how long this will last. As you can see from the above, although I think sterling should strengthen given its fall from grace following the Northern Rock debacle, there is no certainty in this happening in the short to medium term. Just as possible is sterling losing further ground as the problems in the finance sector throughout the world have a greater affect on the UK economy than most. That is why we highlight the importance of developing a currency strategy so as to ensure your financial planning is done efficiently and effectively – by people who really know what they are doing. To get a Better-than-Bank
go to: http://www.smartCurrencyExchange.com/smartsquotation.htm
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Valentine's Day PresentNow here is a REALLY great Valentine’s Day present for the person of your dreams – truly a property to fall in love with …
Fairy Tale Gothic Chateau set in 14 acres of parkland in the Charente countryside This superb 19th
century chateau, partly dating back to the 16th century, has a love
story of its own to tell. It seems that one Rene Edmond gave his niece
Jane and her husband Henri some funds which they used to buy and rebuild
this chateau. Renovation works took some 10 years and, with the help
of an architect and sculptor, the chateau was restored to his former
glory. There are sculptures throughout the building showing the passion Henri held for his wife Jane. In each room, on almost all the fireplaces and facades, you can see the letters “H” and “J” entwined. Thus the chateau bears witness to the love between these two. This gesture of love filters throughout the area and the chateau has gained the nickname “Chateau of Love”. The chateau is for sale again but, at a cool €3 million, is outside most people’s budget. Sometimes it is lovely to dream however…. If you are looking for a property in France to fall in love with, please contact me. There are many more where this one came from – and many at a more reasonable price! Are you and your loved on looking for your dream home in France? Email me and you will always receive a personal reply: |
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How can I understand inheritance tax in France and is there any way to avoid paying too much?The inheritance tax situation in France is a little involved but certainly since the election of President Sarkozy, it has changed somewhat for the better. Perhaps his well publicised love affair and subsequent marriage to Carla Bruni has been a blessing for France – and for us Brits who love it! I would say at the
outset however, it is well worth consulting an expert on this to best
protect yourself and your family. Did you know for instance that you
cannot disinherit your children in France - they have protected rights? Previously there
were upper limits. The Tontine Clause is much cheaper (normally free
to insert into the contract) and easier to arrange. This is something
I go into in much more detail in my France Guide: http://www.francebuyingguide.com/guide.htm If a property is
owned "en tontine" the entire property would pass to the survivor,
as if it were owned in the survivor's sole name from the moment of purchase.
There is also another scheme whereby someone may renounce future interests
or defer their right to an inheritance.
So, however loved up you are this past Valentine’s Day, you will be hugely helped by talking to a financial planner. More about them next…. For a wealth of information on “everything France”, including a description of each region for you to browse over, I highly recommend obtaining your very own copy of my France Buying Guide. You can get it at: | ||
What’s love got to do with…a financial planner?In the spirit of Valentine’s Day, Sharon Hollinger, who is with the company that helps all our France Buying Guide readers to effectively and efficiently PLAN their purchase, investments and their future life in France, has provided a bit on love… What’s love got to do with a financial planner? Everything actually! You need to find a financial partner who will love you enough to allow you to realise your financial freedom. They will educate you and enable you to make great investment choices whilst building on a strong, permanent relationship. The very best partnerships are based on trust, integrity and long-term goal setting. Building on these values provides the perfect marriage for a life-long partnership where outstanding success is achieved in every area of life. The key credentials you need to look for when selecting your financial partner are: Trust - Do you, hand on heart, trust their advice and expertise? Do they have your best interests at heart? Integrity - They must be honest and straightforward from the outset and not lead you on by making false promises. Unlike the majority of partners, they will not spend your money, rather invest it and make it work for you so that you can start to build success into your future plans. Long-term
goal setting – Like any protective partner, they must
promise to keep a watchful eye over your assets to ensure that they
receive adequate protection and see the fruits of your labour increase. Sharon’s information holds true for anyone that you decide to work with regarding your plans to buy in France. Regardless as to whether you need an agent, a currency exchange company, a removals company or someone to help you with your financial planning, you MUST make sure that they’re a reliable company with good people that want to LOOK AFTER YOUR INTERESTS! There are many good companies out there so never settle for anyone that doesn’t really appeal to you…If you’d like me to get our financial planning partners to email/call you to introduce themselves, please let me know. Just send me a quick email or pick up the phone: mailto:Alexis@overseasguidescompany.com Tel: 020 7898 0549
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| Buying in France: Know before you go! It is very important to seek proper professional advice at the early stages of your property search in France. Although the purchase is achieved in 2 stages as in the UK, the difference between buying in the UK and buying in France is that in France the first contract “compromis de vente” is binding, subject to the clauses contained therein and you are legally obliged, after a 7 day “cooling off period” to go through with the purchase. Failure to do so can result in a claim for damages, It is easy therefore to see that the correct drawing up of the first contract is of vital importance and what is left out of the document can be just as important as its contents. The advantages of instructing a bilingual solicitor are as follows:
As the information we offer to you is purely educational and without bias, you can rest assured that any professionals with whom we put you in touch are totally independent. If you would like to be put in touch with an excellent bilingual solicitor, let me know. This is something you can and should do at an early stage. Click on the link below and you will have the benefit of all our resources. http://www.francebuyingguide.com/resources.htm
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Call me biased in favour of France but I have a sneaky feeling that since you are reading this too, we are singing from the same hymn sheet…. France is the country which has it all: the most romantic city in the world, fine wines, wonderful food, great beaches, beautiful countryside dotted with roads which allow you to drive without stress and train lines which work. Britain has had an on/off love affair with France for over a thousand years. It is familiar in many ways but foreign enough to be pleasurably different. So as the days stretch and you contemplate the approaching Spring season, let me know how I can help you with your France plans, it will be with the greatest of pleasure. I do hope you enjoy my little missives. I had a lovely email from one of my readers the other day which I permit myself to share with you here…
http://www.francebuyingguide.com/guide.htm If you have a story to tell, please take a look at our France Forum – I read them all and love to hear your views. Until next time, I wish you well and happy. A tres bientot! Alexis
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